633 W Olive St, Inglewood, CA 90301

633 W Olive St, Inglewood, CA 90301

Inglewood, CA

Property Description

Triplex, located in one of the most desirable neighborhoods of Inglewood. This value-add opportunity has over over 35% upside in monthly rental income. Property is separately metered for ALL utilities including water. Olive is an ideal pickup for any investor or owner/user looking to live in one unit and let the others pay off the mortgage! This spacious asset is comprised of (1) 2- bedroom/1-bath and (2) 1-bedroom/1-bath units. The building features 1,817 Sq. Ft of living space, and sits on a large 7,239 Sq. Ft lot. The units feature hardwood floors, new paint and Washer/Dryer hookups in each unit. (2) garage units in the back, currently operating as storage present a perfect opportunity for ADU conversion. There is a lot of room to grow the monthly rental income to a 5.51% Market Cap Rate. The subject property is just minutes away from the Brand New NFL Stadium, Clippers Arena, and the Hollywood Park Development, which will include 500,000 Sq. Ft of retail space, a 300 unit hotel, 314 apartment units, and plenty of office space.

Property Features

  • Sale Price: $900,000
  • Area Size: 1,817 SF
  • Year Built: 1943
  • Listing Date: August 10, 2021
  • Closing Date: December 13, 2021
  • Units: 3